What is CreditCheckTotal? Are those real FICO scores? What is the scale?
39% - 46% translates to how many dollars?
@Anonymous wrote:Always a topic of discussion, with the general advice being to report less than 10% on one card and 0% on all the others. Or, in the alternative, never let it go above 30%. I just had a friend sign up for CreditCheck Total. Her utilization is reporting between 39% and 46% depending on report. Her scores?
Experian - 841
Transunion - 827
Equifax - 829
She always just allows her cards to report and then PIFs. She knows I pay as I go, and asked me if she should start doing that. My response was why bother?
@I would suggest if she cares enough to pay for CCT, she likely cares enough to try the FICO strategist optimization for once just to see. @Anonymous-46% and those FICO 8 scores, heck I'd be at least trying to pretty up for one month just to see if I really could hit 850. That is an awfully purty file, in general I agree, why bother, but if I'm going ot pay $13/month or whatever, it's worth just to see.
@NRB: Yes, FICO 8 scores same as here.
@Revelate wrote:
@Anonymous wrote:Always a topic of discussion, with the general advice being to report less than 10% on one card and 0% on all the others. Or, in the alternative, never let it go above 30%. I just had a friend sign up for CreditCheck Total. Her utilization is reporting between 39% and 46% depending on report. Her scores?
Experian - 841
Transunion - 827
Equifax - 829
She always just allows her cards to report and then PIFs. She knows I pay as I go, and asked me if she should start doing that. My response was why bother?
@I would suggest if she cares enough to pay for CCT, she likely cares enough to try the FICO strategist optimization for once just to see. @Anonymous-46% and those FICO 8 scores, heck I'd be at least trying to pretty up for one month just to see if I really could hit 850. That is an awfully purty file, in general I agree, why bother, but if I'm going ot pay $13/month or whatever, it's worth just to see.
@NRB: Yes, FICO 8 scores same as here.
Ok, then my next clarifying question, is that only one card at the high utilization, or all cards together? If only one card, what is overall utilization, and what limit does this card have relative to total CL?
@Thomas_Thumb wrote:
@Anonymous wrote:Always a topic of discussion, with the general advice being to report less than 10% on one card and 0% on all the others. Or, in the alternative, never let it go above 30%. I just had a friend sign up for CreditCheck Total. Her utilization is reporting between 39% and 46% depending on report. Her scores?
Experian - 841
Transunion - 827
Equifax - 829
She always just allows her cards to report and then PIFs. She knows I pay as I go, and asked me if she should start doing that. My response was why bother?
For score maximization, aggregate utilization below 10% is key. If you only allow one card to report, and its CL represents 20% of aggregate CL then allowing it to report 30% or 40% should not inhibit the potential to reach 850.
General question - Does anyone have any data showing a negative impact of allowing a single card to report 30 to 49% utilization in situtaions where aggregate utilization is maintained below 10%? The 10% on one card makes sense if you only have one card as it is the same as aggregate. Not sure about negative impact utilization % on an individual card basis other than "a max out %" for Fico 8. Any documented utilization thresholds?
I'm going to walk a $250 limit card from max utilization to min as my only revolving tradeline reporting a balance (even if I know I don't take a ding at a second card reporting under FICO 8 even on my current file) over the course of sixish months once my report stabilizes post mortgage / post applications if I can figure out a window with my inquiries on EQ not falling off. Or if I don't get the limit I expect on the planned CSP that'll get maxxed out in a hurry hah, but that seems unlikely at this point.
I've never seen in my own data that if I have <73% at least on a single tradeline and <10% aggregate (I never got a chance to test a higher value, Chase unexpectedly hosed my 83% test) that I took a ding but wasn't ever in a position to retest and I wasn't really hunting for a specific datapoint at that time so report might not have been stable. When I have had cards at 99% I did see a ding under EQ 04 and another user got a good datapoint at 93%, but I also wasn't <10% utilization either. Breakpoint has been historically alleged to be either 80 or 90% for a maxxed out tradeline, but I never really saw concrete data on it and not for FICO 8 yet.
@Anonymous wrote:
@NRB525 wrote:What is CreditCheckTotal? Are those real FICO scores? What is the scale?
39% - 46% translates to how many dollars?
The scale is 300 to 850 and the scores are Fico 8. It's between $88K and $103K depending on report.
ETA: Part of that total is a HELOC.
What is the breakdown of types of accounts? If the $100k is mostly HELOC, or the available HELOC is $1m so 10% util there, that is a monster bit of ballast.
I find it difficult to believe someone with 40% utilization on credit cards, across all credit cards, has over 800. If it's one $10k card at 40%, 10% overall on Credit Card utilization, and $100k on a HELOC that has a much larger available borrowing, now we are talking about some numbers that make sense for 800+.